Among the major cryptocurrency assets -- and perhaps all crypto coins -- Litecoin is most levered towards Bitcoin's success.
Statistically speaking, wherever Bitcoin goes, so too does Litecoin:
Since the second quarter of 2013, Bitcoin and Litecoin share a 98% correlation. On a YTD basis, this has dropped to nearly 86%. Still, it's a very strong correlation considering that other cryptocurrencies appear to be branching away from Bitcoin's ebb and flow.
I also believe that litcoin will move wherever bitcoin goes
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Since BTC has the first mover advantage, its rise and fall will directly affect all the other alt coins including LTC.
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All altcoin price movements are very strongly correlated with the price of bitcoin, just because it was the first, and is now like the king of cryptocurrency. One statistic I find interesting is the "bitcoin dominance". Right now it is at about 40%, how do you see this figure changing in the future?
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Its 1:44 AM EST! Its looking like #LTC might be bullish into sunday morning!
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